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simpson, if we go up the fiscal cliff simpsons are hit the hardest. the taxes go up 9,000%. writers of the simpson, the taxes will skyrocket. this isn't a joke. >> bob: you are right. but this is not going to happen. there is adjustment to social security. real cuts. >> eric: you know what -- >> bob: can i say something? >> eric: you add ornaments to add things. in obama added this little thing the other day. he said i don't want a debt ceiling or bound like it going for it. debt doesn't matter. >> bob: respond to the social security thing. >> eric: obama in october of 2008 before he was president obama. season. >> the way bush has done it, over the last eight years is to take out a credit cardback of china in the game of the children, driving up the national debt. that is irresponsible and unpatriotic. >> eric: unpatriotic. $5 trillion in debt. president obama will add ten, 11, 12 trillion in debt. when he is done with this. >> for years, president obama running when he was senator, running for president always said that the bush tax cuts were only for the rich and only ben
simpson, if we go up the fiscal cliff simpsons are hit the hardest. the taxes go up 9,000%. writers of the simpson, the taxes will skyrocket. this isn't a joke. >> bob: you are right. but this is not going to happen. there is adjustment to social security. real cuts. >> eric: you know what -- >> bob: can i say something? >> eric: you add ornaments to add things. in obama added this little thing the other day. he said i don't want a debt ceiling or bound like it going for...
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in a fiscal cliff free fall, tax rates on capital gains could rise to 24%. those dividends could increase to a whopping 44%. here now is former reagan economic adviser art laugher. how can you have capitalism without capital and why is there a war on capital, that includes cap gains, that includes dividends which will triple. it also includes the estate tax. why is there a war on capital? >> i have no idea, larry. i think it's just pure politics. but it's sort of lovely the words and looking them up. i understand that the french don't have a word for entrepreneur or laissez faire. [ laughter ] >> because they never use it. >> they never use it. economics is all about incentives. if you tax people who work, you pay people who don't work, don't be surprised if you find a lot of people not working. it's the rich issue here, which is just fascinating to me. if you tax rich people and give the money to poor people, you're going to get lots and lots of poor people and very few rich people. just look at what happened in britain two years ago when gordon brown raise
in a fiscal cliff free fall, tax rates on capital gains could rise to 24%. those dividends could increase to a whopping 44%. here now is former reagan economic adviser art laugher. how can you have capitalism without capital and why is there a war on capital, that includes cap gains, that includes dividends which will triple. it also includes the estate tax. why is there a war on capital? >> i have no idea, larry. i think it's just pure politics. but it's sort of lovely the words and...
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cliff unless republicans bend on taxes. a comment by former democratic potential candidate howard deen frighted republicans that the debate is not just about raising taxes on the rich. >> the truth is everybody needs to take more taxes, not just the rich. that's a good start, but we're not going to get out of the deficit problem unless we raise taxes acss the board. to go back to what bill clinton had. >> now, some liberals pushed the president to invoke the 14th amendment claiming that gives him the executive power to raise the debt limit himself, but jay said today the white house studied that proposition and decided the president does not have that executive power meang we headed for another show down with congressver raising the debt ceiling. lou: the fiscal cliff and now a new ultimatum on the national debt ceiling. you suppose this is the last condition? >> it's going to be a wild couple of months, maybe everybody thought with the election over, there was going to be peace and fure all of this out, bui think we're jus
cliff unless republicans bend on taxes. a comment by former democratic potential candidate howard deen frighted republicans that the debate is not just about raising taxes on the rich. >> the truth is everybody needs to take more taxes, not just the rich. that's a good start, but we're not going to get out of the deficit problem unless we raise taxes acss the board. to go back to what bill clinton had. >> now, some liberals pushed the president to invoke the 14th amendment claiming...
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obama care taxes or for that matter the fiscal cliff tax hikes that are coming. let's faulk about this. we have igor volsky and guy benson. guy benson, i am glad they have won't up to this lousy medical device tax but did someone say minnesota where, wait, medtronic and st. jude medical are the biggest companies? they're the ones that make the equipment? and senator klobuchar and senator al franken are all of a sudden making a beef because it's in their state? where they been, guy benson, and when did they discover that taxes are job kimmers? >> i thought that wasn't the case at all. you're right. they didn't just wake up to this. let's be completely honest about what happened here. they knew all along that the medical device tax was not just a job killer but would really stifle medical innovation. we've heard this from people across the spectrum. the people involved in this industry who are making america the leader when it comes to world medical innovation, they're saying this is really going to put a crimp in what we're able to accomplish. now at the last minu
obama care taxes or for that matter the fiscal cliff tax hikes that are coming. let's faulk about this. we have igor volsky and guy benson. guy benson, i am glad they have won't up to this lousy medical device tax but did someone say minnesota where, wait, medtronic and st. jude medical are the biggest companies? they're the ones that make the equipment? and senator klobuchar and senator al franken are all of a sudden making a beef because it's in their state? where they been, guy benson, and...
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the president shared his views with a virginia family when it comes to the fiscal cliff and tax cuts that could happen. delia goncalves is live on capitol hill with more on that this morning. good morning, delia. >> reporter: good morning. mike, andrea, it appears we were here live on capitol hill just two weeks ago talking about a compromise. remember that? well, now we're back and it seems that those talks that had so much promise, well, they seem they've come to a screeching halt. now congress people are pointing the finger among increasing pressure to strike a deal before the january 1 deadline. they're now blaming each other for stalling talks that could send us off a fiscal cliff. in a surprise visit to a falls church family, the president emphasized he will refuse to sign a bill that does not raise taxes on the wealthy but republicans say that's a deal breaker. his stance they say proves the president is not interested in striking a balanced deal, simp in spending more and raising the debt ceiling. but the president says his main concern is certainly the middle- class families
the president shared his views with a virginia family when it comes to the fiscal cliff and tax cuts that could happen. delia goncalves is live on capitol hill with more on that this morning. good morning, delia. >> reporter: good morning. mike, andrea, it appears we were here live on capitol hill just two weeks ago talking about a compromise. remember that? well, now we're back and it seems that those talks that had so much promise, well, they seem they've come to a screeching halt. now...
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from everyone if we go over that fiscal cliff, you got to compromise. there's nothing wrong with compromise. to some liberals on the far left, conservatives on the far right, compromise is a dirty word. you should never compromise with the other side. they hate that. they rather go over the fiscal cliff but the overwhelming majority of americans totally disagree with those hard line positions on the extreme left and the extreme right. they want to compromise and they want a deal and they want the president and john boehner, the republican leadership and democratic leadership to come up with something that avoids going over the fiscal cliff. i think that's what that poll shows. >> let me change topics for a bit. news broke just before the program that republican senator jim demint is leaving. he decided to take over the heritage foundation. i have a question for you in that was this expected? he's a staunch conservative and opponent to craving into democrats and how do those things factor into a way ahead for republicans in the senate? >> i was surprised
from everyone if we go over that fiscal cliff, you got to compromise. there's nothing wrong with compromise. to some liberals on the far left, conservatives on the far right, compromise is a dirty word. you should never compromise with the other side. they hate that. they rather go over the fiscal cliff but the overwhelming majority of americans totally disagree with those hard line positions on the extreme left and the extreme right. they want to compromise and they want a deal and they want...
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cliff if taxes are not raised. >> the administration prepared to go over the fiscal cliff? >> absolutely. there is no prospects in agreement that doesn't involve the raise going up on the top 2 percent. >> house speaker bane another a boehner and president obama have been talking by phone. not much progress was made. boehner says if he doesn't agree with the propose sal he has obligation to submit one of his own. >> the missing girl battling leukemia is safe and is being treated in new mexico. she was taken out of a hospital in phoenix. her mother took her. doctors are worried she could potentially get a deadly infection. the girl's father claims the hospital was to blame for a different infection which cost emily her right arm. he's refusing to tell police where she is in mexico. both parents could face criminal charges. >> shock, disgust and fear spread quickly on the campus of the university of -- one details the exact moment they realty lied they were in a major crisis. it reads subject emergency the shooter at the aurora mall last night was james holmes i am worried ab
cliff if taxes are not raised. >> the administration prepared to go over the fiscal cliff? >> absolutely. there is no prospects in agreement that doesn't involve the raise going up on the top 2 percent. >> house speaker bane another a boehner and president obama have been talking by phone. not much progress was made. boehner says if he doesn't agree with the propose sal he has obligation to submit one of his own. >> the missing girl battling leukemia is safe and is being...
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. >> republicans reveal their fiscal cliff end game. give in on taxes and take the economy hostage again. congressman chris van hollen responds tonight. >>> somehow raising the medicare eligibility age is back in the fiscal cliff discussion. david cay johnston says it would be -- to do it, and he is here tonight. >> what we shouldn't be doing is try to take away your rights to bargain for better working conditions. >> in michigan, the president stands up for workers like he has never done before. >> these so-called right the work laws, they don't have to do with economics. they have everything to do with politics. >> tonight the president's big speech, and why the fight in michigan is an assault on workers everywhere. >>> plus, major news on a white house push for immigration reform. in 40 years after man's last trip to the moon, a return voyage may be a reality. astronomer derrick ditz will tell you why the golden spike is a big deal. good to have you with us, folks. thanks for watching. the new republican strategy is to take the ameri
. >> republicans reveal their fiscal cliff end game. give in on taxes and take the economy hostage again. congressman chris van hollen responds tonight. >>> somehow raising the medicare eligibility age is back in the fiscal cliff discussion. david cay johnston says it would be -- to do it, and he is here tonight. >> what we shouldn't be doing is try to take away your rights to bargain for better working conditions. >> in michigan, the president stands up for workers...
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prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest members. only 2%. the size of the problem in some sense is so large it can't be solved without rates going up. again, there is broad recognition of that reality now. >> one fallback option, republicans are reportedly considering to accept tax cuts for the middle class, allow rates to go up to the wealthiest and then start the fight all over again during debt limit talks early next year. yesterday at a business roundtable of ceos, president obama took a hard line warning opponents not to consider the strategy. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation which by the way we have never done in our history until we did it last year, i will not play that game. >> senator tom coburn yesterday on "morning joe" became the latest to br
prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest members. only 2%. the size of the problem in some sense is so large it can't be solved without rates going up. again, there is broad recognition of that reality now. >> one fallback option, republicans are reportedly considering to accept tax cuts for the middle class, allow rates to go up to the wealthiest and then...
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cliff issue, on the tax reform and entitlement reforms that we get next year, and there is a sense he really could use a bit of some fresh blood to make things a little easier going forward. >> chris, susan, and ari, thank you very much for all joining us. and the jobs report, more jobs are added in november than was predicted. what does it all mean for the economy? we'll have our own reality check next. first, new jersey governor chris christie stops by "the daily show" to chat with jon stewart about his run-in with the boss. >> and he came up and put his hand out and i shook his hand. i tried to be cool. >> sure. >> i wasn't. >> no. >> and then he said, come on, give me a hug. and i said all right. and i hugged him. >> did he go, come on stop, let me go? >> no. i was -- that's always hard to judge, when do you stop the man hug? that's hard. >> did you give had him -- you got to give also this the pat or just go slow dance? >> i went slow dance. >> you have to be kidding me. >> i went slow dance. >> no pat. i went slow dance. >> oh. >> but -- but then, he said the most amazing thing
cliff issue, on the tax reform and entitlement reforms that we get next year, and there is a sense he really could use a bit of some fresh blood to make things a little easier going forward. >> chris, susan, and ari, thank you very much for all joining us. and the jobs report, more jobs are added in november than was predicted. what does it all mean for the economy? we'll have our own reality check next. first, new jersey governor chris christie stops by "the daily show" to chat...
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i do not believe we will fall into the fiscal cliff meaning that neither party will let the tax cuts expire. i think republicans are going to stay at a retreat and voting to extend the middle class tax cuts. that will avoid the miss kal cliff situation. and i may not like this deal at all. one reason stocks are behaving wellky well. speaker john boehner is pushing the president to offer spending cuts. so with 20 days to grow, is this likely? am i going to be proven right or whong? larry, we are going to avoid the fiscal cliff resection. the white house is acting with impunity right now. and the white house is so far said look, we want to continue talking about one quarter of the president's own architecture. the president said there was a three to one ratio between savings and cuts and revenue. but they have been silent on this. >> little bit of breaking news. >> wow, the studio is shaking. mr. bhoener is at $800 million. no new information on then ti e ti tiltment. i'm suggesting. it is a game of chicken. neither party can afford this kind of recession. after what we've been through
i do not believe we will fall into the fiscal cliff meaning that neither party will let the tax cuts expire. i think republicans are going to stay at a retreat and voting to extend the middle class tax cuts. that will avoid the miss kal cliff situation. and i may not like this deal at all. one reason stocks are behaving wellky well. speaker john boehner is pushing the president to offer spending cuts. so with 20 days to grow, is this likely? am i going to be proven right or whong? larry, we are...
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at the end of the year, we would still go over the fiscal cliff. remember, the bush tax cuts are one of the at least stimulative policies in the negotiations. according to the economic policy institute, extending the middle class tax cuts would wipe out only about 11% of the austerity's economic impact. 11%. but all that other stuff, the payroll tax cut, the unemployment insurance, the sequester, all that, that would still be expiring. so come early next year, the economy would likely be entering an austerity-induced recession. markets would be convulsing as they realize our austerity crisis is about to become also a default crisis. and so the economy, as a whole, is going to be going nuts. poll after poll already shows republicans are receiving more blame for the potential failure of the debt talks. and after telling the press they're going to make a strategic decision to use a debt ceiling as more and more dangerous leverage, they're likely going to get blamed for that, too. and that will be much worse in the polls. republicans may believe the wh
at the end of the year, we would still go over the fiscal cliff. remember, the bush tax cuts are one of the at least stimulative policies in the negotiations. according to the economic policy institute, extending the middle class tax cuts would wipe out only about 11% of the austerity's economic impact. 11%. but all that other stuff, the payroll tax cut, the unemployment insurance, the sequester, all that, that would still be expiring. so come early next year, the economy would likely be...
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. >> once again, he was trying to frame the battle oaf the fiscal cliff as being all about taxes. with no mention of spending cuts. >> i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. but i do remain optimistic that we can get something done that is good for families like this one. that is good for the american economy. >> republicans believe the reason the president is going light on spending cuts and demanding the budget deal include another increase in the nation's debt ceiling is clear. >> this isn't about getting a handle on the deficits or debt for him. it's about spending even more than he already has. >> white house aides reject republican claims that holding the debt limit over the president head is the only mechanism to get him to trim spending. >> you are going to keep the debt limit goes higher and you're spending money. you and congress. >> president signed in law, $1 trillion in spending cuts. there is a specific proposal to achieve $600 billion in savings from our entitlement programs. including our healthc
. >> once again, he was trying to frame the battle oaf the fiscal cliff as being all about taxes. with no mention of spending cuts. >> i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. but i do remain optimistic that we can get something done that is good for families like this one. that is good for the american economy. >> republicans believe the reason the president is going light on spending cuts and demanding the...
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the fiscal cliff, you go over the cliff, the taxes go up for every single person. is the plan then if you do a deal for taxes on the middle class, then de facto the taxes go up on the wealthy and sort of have a win/win for the democrats? is that the scenario we're looking at now? >> well, the scenario is that we still have time to put a deal together. the president has a detailed proposal on the table. republicans need to decide where they want to move. john boehner needs to decide how he will get his caucus together. they're becoming increasingly isolated in their position. hopefully we can have a deal which protects the middle class. there is a piece of legislation sitting in the house today that would prevent taxes from going up on 98% of the american people. 97% of small businesses. they should go ahead and move that. and then we can have a broader discussion of how we achieve larger deficit reduction and avoid the fiscal cliff. but there's plenty of room and plenty of time for compromise. the president's position is clear. we're not going to do anything that h
the fiscal cliff, you go over the cliff, the taxes go up for every single person. is the plan then if you do a deal for taxes on the middle class, then de facto the taxes go up on the wealthy and sort of have a win/win for the democrats? is that the scenario we're looking at now? >> well, the scenario is that we still have time to put a deal together. the president has a detailed proposal on the table. republicans need to decide where they want to move. john boehner needs to decide how he...
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here at home, we are just over three weeks away from falling over the so-called fiscal cliff, that combination of tax increases and deep federal spending cuts. nancy cordes reports, the back- and-forecast showed no sign of letting up today 20 white house and republicans in congress. dr reporter: in his saturday weekly address, president obama nignaled he is open to making cuts on programs like medicare agd medicaid if republicans atree to raise tax rates for the rich. fini'm willing to find ways to cing down the cost of health care without hurting seniors and dther americans who depend on it. and i'm willing to make more entitlement spending cuts on top of the $1 trillion in spending duts i signed into law last year. >> reporter: his remarks came one day after house speaker john aehner announced the talks were stalled. >> well, this isn't a progress report because there's no progress to report. >> reporter: his democratic counter-part, nancy pelosi, blamed boehner for the stalemate. >> what they offered in return nas an empty letter, lacking in the fics. 3 dreporter: such is the state of negot
here at home, we are just over three weeks away from falling over the so-called fiscal cliff, that combination of tax increases and deep federal spending cuts. nancy cordes reports, the back- and-forecast showed no sign of letting up today 20 white house and republicans in congress. dr reporter: in his saturday weekly address, president obama nignaled he is open to making cuts on programs like medicare agd medicaid if republicans atree to raise tax rates for the rich. fini'm willing to find...
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there are dramatic changes as far as the estate tax is concerned if we go over the fiscal cliff, if no legislation is passed between now and the end of the year, walk us through what the folks out there can expect. >> here's how it works, wolf. if a family members dies and leaves their estate not to their spouse. but to their decendents, their children or someone other than their children. the estate tax kicks in. here's what's happening this year. according to the independent tax policy center. a state center worth less than $5 million are exempt. the center estimates about 3600 people, families, estates will fall into that category this year. 2012. next year barring any congressional action, that exemption falls down to a million dollars, the rate you pay on that estate jumps up to between 41% and 55%. on top of that, there's a 5% tax on the portion of very large tax estates. the tax policy tenners estimates the number will jump from 2600 in 2012 to 53,000 in 2013. that's a huge increase from where we stand right now. as you know, some people call this double taxation, because people
there are dramatic changes as far as the estate tax is concerned if we go over the fiscal cliff, if no legislation is passed between now and the end of the year, walk us through what the folks out there can expect. >> here's how it works, wolf. if a family members dies and leaves their estate not to their spouse. but to their decendents, their children or someone other than their children. the estate tax kicks in. here's what's happening this year. according to the independent tax policy...
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, and then the fiscal cliff. susan, thank you very much. we appreciate it, michael. thank you, doug. great to have you with us. now for your comments,
, and then the fiscal cliff. susan, thank you very much. we appreciate it, michael. thank you, doug. great to have you with us. now for your comments,
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do not agree to that is the administration prepared to go over the fiscal cliff. >> oh, absolutely, an agreement doesn't involve those rates going up on the top 2%, only 2%, and all of those americans get a tax cut on the first $250,000 of their income. >> well, what if the obama administration lets it happen? what happens to the average american family. joining us here, is congressman randy forbes, nice to have you on the show. >> thank you, governor. >> let me ask you something, do you feel that the president actually wants it to happen so it gives him some political advantage? >> well, governor, i just have to judge that by two things, first of all, what i'm hearing from my colleagues on the democratic leadership side and told me as late as last week, they wanted to go over the fiscal cliff because we've argued all along they'll start by simply taxing everybody above 200,000, but that will continue and this'll lower at that rate and limit and they told me they'd vote for everything that tax everybody above $150,000 and secondly you look at the president as actions. the president
do not agree to that is the administration prepared to go over the fiscal cliff. >> oh, absolutely, an agreement doesn't involve those rates going up on the top 2%, only 2%, and all of those americans get a tax cut on the first $250,000 of their income. >> well, what if the obama administration lets it happen? what happens to the average american family. joining us here, is congressman randy forbes, nice to have you on the show. >> thank you, governor. >> let me ask you...
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. >> reporter: and, of course, going off the so-called fiscal cliff means a tax hike for just about everybody who does have a job. but today, treasury secretary timothy geithner said the president is absolutely willing to go off the cliff unless republicans agree toto raise ta rates. >> there's no prospect for an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. >> reporter: and on that, no progress. >> where are the specifics? nothing is going on. >> reporter: there have been no rey talks between the white house and republicans for a week. but late today, diane, one possible sign of progress. the president and the speaker of the house spoke via telephone. neither side would give any details about what was said, but the stock market closed higher today with traders, at least, apparently optimistic that a deal will be reached. >> one phone call can do that. okay, thank you, jonathan karl. >>> now, we head overseas to cairo. another day of bloodshed and chaos there. battles erupting in the streets. look there, outside the presidential palace. between
. >> reporter: and, of course, going off the so-called fiscal cliff means a tax hike for just about everybody who does have a job. but today, treasury secretary timothy geithner said the president is absolutely willing to go off the cliff unless republicans agree toto raise ta rates. >> there's no prospect for an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. >> reporter: and on that, no progress. >> where are the...
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i think this is all fiscal cliff and tax related selling here. i don't think it's core, that rumor that because they moved up margins -- >> what do you do? your brother says stay away. >> i think he's right. you don't add to it until the final weeks of december. >> he didn't say stay away. >> did he say buy it? >> he said own it. >> if he thinks it's going up. >> if he loves it so much, why don't you buy more here? absolutely. on november 16th the stock rallied, took a little bit off, and i still believe on a tact tactical basis that's the right move, at least for me. longer-term time frame it is generational. it looks most like a bond. it's a bond-friendly type of asset. that's why i want to own it. now, john and pete are talking about what potentially could turn it. you have to look forward into the earnings season and understand the potential for the number of iphones to be sold to hit 50 million. now, the reason that it was down 9 of 11 weeks, why did that begin? it began on the conversation of iphone five constraints. you wanted to order an
i think this is all fiscal cliff and tax related selling here. i don't think it's core, that rumor that because they moved up margins -- >> what do you do? your brother says stay away. >> i think he's right. you don't add to it until the final weeks of december. >> he didn't say stay away. >> did he say buy it? >> he said own it. >> if he thinks it's going up. >> if he loves it so much, why don't you buy more here? absolutely. on november 16th the stock...
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to talk to lawmakers the debate rageed on how to avoid the fiscal cliff. president obama trying to argue the republican plan wouldn't work suggested that the g.o.p. would eliminate charitable deductions altogether. >> if you eliminate charitable deductions, ever hospital and university and non-for profit agency, across the country would find themselves on the verge of collapse. >> destroying every charity in the country as a powerful political argument no republican plan to eliminate the charitable deductions. oddly enough the president himself long favored capping deductions at 28%. also in his current budget. >> a different way to do that, that would raise $600 billion over ten years. >> analysts say that 50 $50,000 cap the g.o.p. suggested would raise more than that. some $750 billion. the arguement that limiting deductions would hurt charities was dismissed by mr. obama himself back in 2009. >> i think this was a good idea. a realistic way for to us raise revenue from people who benefited enormously in the last several years. >> making the wealthy pay
to talk to lawmakers the debate rageed on how to avoid the fiscal cliff. president obama trying to argue the republican plan wouldn't work suggested that the g.o.p. would eliminate charitable deductions altogether. >> if you eliminate charitable deductions, ever hospital and university and non-for profit agency, across the country would find themselves on the verge of collapse. >> destroying every charity in the country as a powerful political argument no republican plan to...
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short term spending cuts should be part of any fiscal cliff deal. the big news this morning is we're not going over the cliff. they have a bad hand. they're going to end up passing this middle class tax thing if that's the only thing they do. and live to fight another day. you can see the momentum building. not official but you see it. the difficulty for boehner still is passing the extension may be best of the options it is an option that a chunk of his party has said he would reject. the fiscal conservatives criticizing boehner's budget pr proposal. then you had senate republicans watching their backs, rejecting a u.n. treaty that bans discrimination against those with disabilities around the world. senator jim demint said speaker boehner's $800 billion tax hike will destroy american jobs. yes, he said speaker boehner. one party proposes increase in an effort to counter them. the other party's leadership proposes, wait for it, $800 billion in tax increases and then former alaska governor sarah palin blasting boehner's decision to remove some conse
short term spending cuts should be part of any fiscal cliff deal. the big news this morning is we're not going over the cliff. they have a bad hand. they're going to end up passing this middle class tax thing if that's the only thing they do. and live to fight another day. you can see the momentum building. not official but you see it. the difficulty for boehner still is passing the extension may be best of the options it is an option that a chunk of his party has said he would reject. the...
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Dec 6, 2012
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WUSA
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cuts that have come to be known as the fiscal cliff and today republicans stood by their offer to close some tax loopholes and limit deductions and called on the for the give them a new plan that the congress could. president obama spent his day with the santana family of falls church and he says they're members of the middle class and they'll be hit hard if congress fails to extend their tax cuts. meantime virginia could be hit hard if those spending cuts end up taking place especially in places like fairfax county where federal contracting is king. >> if you go make the kind of cuts that some are suggesting happen, then you're really hurting a lot of the small buss
cuts that have come to be known as the fiscal cliff and today republicans stood by their offer to close some tax loopholes and limit deductions and called on the for the give them a new plan that the congress could. president obama spent his day with the santana family of falls church and he says they're members of the middle class and they'll be hit hard if congress fails to extend their tax cuts. meantime virginia could be hit hard if those spending cuts end up taking place especially in...
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Dec 7, 2012
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that would seem to back up a republican theme in the fiscal cliff argument. >> if we raise taxes on the top two rate, a million small businesses who employ 25% of the work force it will cost us over 700,000 jobs and reduce economic growth, lower take home pay and those things. that is a bad scenario. >> the league negotiator on the republican side of the table facing mr. obama says raiding taxes on upper -- raising taxes on upper income americans is not going to fix the problem that the country is facing. >> even the president got the tax rate hike he wanted understand we would continue to see trillion dollar deficits for as far as the eye can see. listen, washington has got a spending problem, not a re-knew problem. >> for many top democrats it's all about taxes and not spending cuts in averting the fiscal cliff. >> the facts are at that point the 39.6% does produce the revenue. the differentiation between 39.6% and the 28% at that the president has for limitation on deduction creates a great deal of money as well. >> one conservative financial commentator suggests the likely outcome o
that would seem to back up a republican theme in the fiscal cliff argument. >> if we raise taxes on the top two rate, a million small businesses who employ 25% of the work force it will cost us over 700,000 jobs and reduce economic growth, lower take home pay and those things. that is a bad scenario. >> the league negotiator on the republican side of the table facing mr. obama says raiding taxes on upper -- raising taxes on upper income americans is not going to fix the problem that...
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Dec 6, 2012
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>> we've heard multiple theories why the stock has been falling, people selling ahead of the fiscal cliff, fearing capital gains, tax hike, fear that china mobile will take longer to start selling the iphone given it's already picked up nokia's latest lumia. reports apple is asking for fewer iphone 5 parts from suppliers and people wrapping that in with fears apple is losing phone market share to android and dealing with compressed margins from ipad mini and other products. as a reporter covering the company i wonder if some of us have crossed over to irrational despondency on apple. tim cook set a high bar in revenue for the quarter, he just had a big opportunity to drop a hint in interviews with nbc's brian williams and bloomberg "business week." so far it seems he didn't do that. iphone 5 supplies coming into balance available to ship in two to four business days online. ipad mini demand outstripped supply which could mean margins are better than apple projected. there are open questions on the pro and con side of apple but the most important ones, these questions can apple ramp iphone
>> we've heard multiple theories why the stock has been falling, people selling ahead of the fiscal cliff, fearing capital gains, tax hike, fear that china mobile will take longer to start selling the iphone given it's already picked up nokia's latest lumia. reports apple is asking for fewer iphone 5 parts from suppliers and people wrapping that in with fears apple is losing phone market share to android and dealing with compressed margins from ipad mini and other products. as a reporter...
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Dec 13, 2012
12/12
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FBC
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the president in his own words confirming that tax hike, coming irrespective of the fiscal cliff outcome. >> taxes are going to go up one way or the other, the key is to make taxes go up and high-end individuals, i am confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. lou: obamacare, guarantees taxes are going up. 5 new obam obamacare-based taxeo kick in next year. a 3.8% surtax on unearned income, and call chains and dividend 18.8%, and a new tax on hospital care, and medical device manufacturersing' taxed 2.3% of the price of their products. americans get a tax deduction if their medical expenses exceed 7.5% of their total ince that number rising to 10% for everyone under the age of 65. and government, for first time ever sending a limit on tax free exible spending accounts, joint committee tax, estimates those 5 new provisions amount to $2 60 billion tax hike over next 7 years, president obama, avoid anything real negotiating on fiscal cliff issue, president doubles the amount of tax hikes he campaigned on when
the president in his own words confirming that tax hike, coming irrespective of the fiscal cliff outcome. >> taxes are going to go up one way or the other, the key is to make taxes go up and high-end individuals, i am confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. lou: obamacare, guarantees taxes are going up. 5 new obam obamacare-based taxeo kick in next year. a 3.8% surtax on unearned income, and call chains...
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cliff if republicans don't agree to tax hikes on the richest americans. and so we welcome peter alexander, at the ranks of the white house correspondents, with a look at all of it. >> reporter: brian, good evening, on the north lawn, the phone call marks the first time speaker john boehner and the president spoke in a week, that is hardly something to celebrate, but they wouldn't characterize what they discussed in the phone call as the country barrels towards the fiscal cliff. with no talks and no progress to avert the looming fiscal cliff, you could say the house has left the building, streaming out of the capitol. tomorrow's session cancelled. with only three work days left this year, they are often criticized. just 16 votes. across the country, rising frustration, americans asking why the holdup. and what will their taxes look like in 2013. >> maybe instead of getting my sister two things, you give one thing, you have to give pause on what could happen next year. >> reporter: today, president obama and house republicans are locked in a political stare
cliff if republicans don't agree to tax hikes on the richest americans. and so we welcome peter alexander, at the ranks of the white house correspondents, with a look at all of it. >> reporter: brian, good evening, on the north lawn, the phone call marks the first time speaker john boehner and the president spoke in a week, that is hardly something to celebrate, but they wouldn't characterize what they discussed in the phone call as the country barrels towards the fiscal cliff. with no...
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beginning to pay down its debt and avoid going over the fiscal cliff is raising tax rates on the wealthiest americans. >> we're going to have to see the rates on the top 2% go up, and we're not going to be able to get a deal without it. >> reporter: if republicans agree to do that, the president told bloomberg television, he'll agree to serious spending cuts. republicans have offered to raise taxes on higher incomes by $800 billion, not by raising tax rates, but by eliminating some deductions and loopholes. during last year's budget showdown, the president said he wanted to do exactly that. >> what we said was give us $1.2 trillion in additional revenues, which could be accomplished without hiking tax rates, but could simply be accomplished by eliminating loopholes, eliminating some deductions and engaging in a tax reform process that could have lowered rates generally while broadening the base. >> reporter: but now the president does not. he says it will not raise enough revenue. >> it's not me being stubborn. it's not me being partisan. it's just a matter of math. >> reporter: amidst all
beginning to pay down its debt and avoid going over the fiscal cliff is raising tax rates on the wealthiest americans. >> we're going to have to see the rates on the top 2% go up, and we're not going to be able to get a deal without it. >> reporter: if republicans agree to do that, the president told bloomberg television, he'll agree to serious spending cuts. republicans have offered to raise taxes on higher incomes by $800 billion, not by raising tax rates, but by eliminating some...
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Dec 7, 2012
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. >> to the fiscal cliff here. one of the more intriguing parts of the story has been is it actually bad for the economy in the long run if we go over the cliff, and i want to quote back to you, the congressional budget office, their review of the fiscal cliff policies and they made a projection that while 2013, if all of the fiscal cliff things and all is enacted in congress and you do nothing to stop the tax rate increases for everybody, 2013 will be bad but by 2018 and 2020 we will be a better did debt to gdp ratio than we've had in decades, that we will be running budget surpluses and we'll be full deployment. do you believe the analysis of the fiscal cliff impact was too rosy? >> projections are very difficult. it's very difficult to take into account the effect on confidence. as i said, consumers have been confident. they've maintained that confidence. but look at what happened during the debt limit debacle a year ago august. look at how the economy came to a grinding halt at that point. >> and that's your fe
. >> to the fiscal cliff here. one of the more intriguing parts of the story has been is it actually bad for the economy in the long run if we go over the cliff, and i want to quote back to you, the congressional budget office, their review of the fiscal cliff policies and they made a projection that while 2013, if all of the fiscal cliff things and all is enacted in congress and you do nothing to stop the tax rate increases for everybody, 2013 will be bad but by 2018 and 2020 we will be...
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we say let's do it all. >> even at the expense of going off the fiscal cliff because if we do that taxes will go up on middle class americans to the tune of 2,000 plus dollars. >> and my whole point is we can put the brakes on the fiscal cliff. they say let's cut taxes for the first $250,000. democrats say that. let's agree and pass what we can agree on and where we can't agree, we can have debates later on. i think the figure ought to be higher than $250,000. i think it should reflect the cost of living in high cost areas like long island. i'm not going to tell my constituents that make less than $250,000, that it should be more. we can all agree on $250,000 and debate what we cannot agree on. >> something about the negotiations themselves seems unusual to me. it seems that house republicans are dealing directly with president obama and sort of skipping over their democratic counterparts like what are you guys doing? >> look, everybody needs to get into a room. there's no question about it. and i don't care whether you are negotiating a baseball contract or negotiating a solution to thi
we say let's do it all. >> even at the expense of going off the fiscal cliff because if we do that taxes will go up on middle class americans to the tune of 2,000 plus dollars. >> and my whole point is we can put the brakes on the fiscal cliff. they say let's cut taxes for the first $250,000. democrats say that. let's agree and pass what we can agree on and where we can't agree, we can have debates later on. i think the figure ought to be higher than $250,000. i think it should...
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the president did not meet with congressional leaders on the fiscal cliff, instead, he met with a local middle class family. danielle lee joins us from capitol hill. danielle? >> reporter: doreen, president obama said he's highlighting the impact of tax heights on the middle class. there's growing pressure to stop the campaigning and sit down face to face. avoiding the bickering on capitol hill today, president obama headed to northern virginia. he sat down with tiffany santana and her family to put a face on the fiscal cliff. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem, gives you a sense of the costs involved in very personal terms. >> reporter: tef any had used twitter to tell the president her family can't afford a tax increase. and the white house released this video. >> $2,000 for me would be paying a month's rent. >> reporter: back in washington, more gridlock. >> it's up to the republicans to decide how long it's going to take. >> the president actually isn't interested in a balanced agreement. >> reporte
the president did not meet with congressional leaders on the fiscal cliff, instead, he met with a local middle class family. danielle lee joins us from capitol hill. danielle? >> reporter: doreen, president obama said he's highlighting the impact of tax heights on the middle class. there's growing pressure to stop the campaigning and sit down face to face. avoiding the bickering on capitol hill today, president obama headed to northern virginia. he sat down with tiffany santana and her...
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with just 19 days left until america goes off that fiscal cliff, tensions are rising. house speaker john boehner is warning his fellow republicans not to make any christmas plans and tea party conservatives are in no mood to negotiate on tax hikes. >> i tell them come to me after you've gotten rid of all the spending. come to me when you get rid of the $3 million you spent last year to watch monkeys on methamphetamine. come to me after you pay for the money you spent on watching a robotic squirrel. >> tracie potts is live with the latest. >> reporter: good morning. no movement to report in the fiscal cliff. we can tell that you across the country mayors and governors are becoming increasingly concerned about the impact back home. there's growing angst on capitol hill over the fiscal cliff. >> figure it out. >> it's really time to get serious. >> reporter: mayors are getting nervous. >> congress needs to act immediately. >> reporter: and the public is worried. in our new nbc/"wall street journal" poll, 70% of democrats and 59% of republicans urge compromise. the country
with just 19 days left until america goes off that fiscal cliff, tensions are rising. house speaker john boehner is warning his fellow republicans not to make any christmas plans and tea party conservatives are in no mood to negotiate on tax hikes. >> i tell them come to me after you've gotten rid of all the spending. come to me when you get rid of the $3 million you spent last year to watch monkeys on methamphetamine. come to me after you pay for the money you spent on watching a robotic...
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Dec 10, 2012
12/12
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KPIX
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they'll do the fiscal cliff stuff and tax reform by august 1 of next year. >> but the speaker so far has not had a rebellion underneath him. he has said things that continue to move in this direction without a rebellion. here's what happened oned with. the president called speaker boehner, my congressional add aides are going to meet with your people. what ron neighbors said tell us what you want after you agree to rates. the white house thought that was an accommodating conversation. the republicans interpreted that as seeking their humiliation. so even within the contours of conversations that are direct and face to face, there are wildly differing interpretations. >> republicans, by the way, know if boehner crosses that bridge, that it could be immediately leaped and get a democratic victory dance on rates without really getting serious on the other side. that's what the lack of trust causes in this process. >> schieffer: i guess in the final analysis, nothing is going to happen until the last minute of the last hour, though, it seems to me. >> and the closer we get to that, the s
they'll do the fiscal cliff stuff and tax reform by august 1 of next year. >> but the speaker so far has not had a rebellion underneath him. he has said things that continue to move in this direction without a rebellion. here's what happened oned with. the president called speaker boehner, my congressional add aides are going to meet with your people. what ron neighbors said tell us what you want after you agree to rates. the white house thought that was an accommodating conversation. the...
WHUT (Howard University Television)
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Dec 9, 2012
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the fiscal cliff, a combination of tax increases and spending cuts. right now there is a political standoff, which the head of the imf, christine largarde, has a duty to stop. >> the fiscal cliff -- when you talk to people around the world, how concerned are they about the ramifications of americans going over this cliff? >> people around the world are concerned about it. it used to be the case that they were more concerned about the eurozone than the fiscal cliff. now things have changed. they often ask about it and its resolution. >> what do you think the impact could be globally? we're looking at a time when the global recovery is fragile at best. >> the u.s. is about 20% of the global economy. if the u.s. suffers as a result of the fiscal cliff, a complete wiping out of its growth, it is going to have repercussions around the world. if the u.s. economy has two% less growth, it will probably be a 1% less growth in mexico, canada, in europe, and japan. there will be ripple effects. >> are you worried about this? >> yes. of course i worry about it. t
the fiscal cliff, a combination of tax increases and spending cuts. right now there is a political standoff, which the head of the imf, christine largarde, has a duty to stop. >> the fiscal cliff -- when you talk to people around the world, how concerned are they about the ramifications of americans going over this cliff? >> people around the world are concerned about it. it used to be the case that they were more concerned about the eurozone than the fiscal cliff. now things have...
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Dec 10, 2012
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another republican apparently willing to agree with tax hikes to get a deal on the fiscal cliff. that is the case now. what do republicans get in return? senator lindsey graham is live on that. martha: looks like a beautiful morning everywhere, doesn't it. new reaction as details are now emerging in yet another nfl football tragedy. this time a crash that killed a dallas cowboy player and left another player charged with manslaughter this morning. >> i think everyone in our organization who knew him is completely numb and has been numb the last couple days. football is a game of emotion. a lot of different emotions circulating. somehow how some way, we have to process it all and understand that life is different than football and we had a job to do today gressiv, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. you got it? yes. rates for us and them -- now that's progressive. call or click today. music: "make someone happy" music:
another republican apparently willing to agree with tax hikes to get a deal on the fiscal cliff. that is the case now. what do republicans get in return? senator lindsey graham is live on that. martha: looks like a beautiful morning everywhere, doesn't it. new reaction as details are now emerging in yet another nfl football tragedy. this time a crash that killed a dallas cowboy player and left another player charged with manslaughter this morning. >> i think everyone in our organization...
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Dec 11, 2012
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but the special dividend, ahead of this, this fiscal tax, cliff tax cliff. lori: we're with you. >> not going to happen. just not going to happen. there is no incentive to do so. lori: except for the fact shares evaporated so much from the $700 peak, right? >> yeah. the special dividend shows some assertiveness, financial strength, yes we have all the cash we can put it to work. at this point over the last three months apple shares have been down 17%. i think it is coming into question whether apple is the same apple that it was five years ago. melissa: for sure. >> it could certainly signal something but not going to happen right now. lori: appreciate that report. thanks, shibani. melissa: as more investors look for inflation hedges, hedge funds and endowments are hiding or adding hard assets to their stock portfolio. one to look at is medallion financial. robert gray spoke exclusively with the company's president. >> that's right, melissa. you can literally hail it as a public proxy for assets whose meter is running higher than other asset classes for deca
but the special dividend, ahead of this, this fiscal tax, cliff tax cliff. lori: we're with you. >> not going to happen. just not going to happen. there is no incentive to do so. lori: except for the fact shares evaporated so much from the $700 peak, right? >> yeah. the special dividend shows some assertiveness, financial strength, yes we have all the cash we can put it to work. at this point over the last three months apple shares have been down 17%. i think it is coming into...
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and you know, there are some taxes that would go up if we two off the fiscal cliff. you're talking about a family that makes about $50,000 having a tax increase of $4,000. melissa: congresswoman, this drives me crazy. when we look at all the numbers we immediately start talking about taxes. it seems like we're looking for revenue under every single rock. that's fine. even if we raised taxes that are proposed by the white house, it will raise $82 billion. it is one half of 1% of the problem. we have a $16.3 trillion debt. all of this talk about raising taxes doesn't get us even close to solving the problem. it doesn't even start the conversation. it is not a drop in the bucket. we've got to reform our spending or grow the economy. but just raising taxes isn't going to do it. >> well, i agree with you 100%. that's why the president as well as the democrats have called for a balanced approach. so of course we can't raise enough taxes to completely deal with the deficit. and you do have to do reforms. you need to reform the tax system. you certainly need to make addition
and you know, there are some taxes that would go up if we two off the fiscal cliff. you're talking about a family that makes about $50,000 having a tax increase of $4,000. melissa: congresswoman, this drives me crazy. when we look at all the numbers we immediately start talking about taxes. it seems like we're looking for revenue under every single rock. that's fine. even if we raised taxes that are proposed by the white house, it will raise $82 billion. it is one half of 1% of the problem. we...
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Dec 9, 2012
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. >>> wall street also watching as both sides inch to the fiscal cliff. not only are your taxes in the balance so are the 401ks. and today, ood holiday bonus, gas prices. we bring in bianna golodryga. you look at gas prices. write on pace to set a record. >> the average american household is expected to spend $4,000 a year on gasoline alone. and gas at 3.93 a gallon and today, take a look at this, $3.35 and by miscase time, estimates we will see 3.20. a lot has to do with post sandy. the supply is back up and the hope is that consumers will take the money and spend it shopping. >> that is the hope. and jobs number, better than expected. unemployment now to 7.7%. and bianna, people watching tonight, where are the jobs? >> that is the question. we did digging and not a surprise. retail up, $53,000 up in, and professional, hospitality and restaurants. and will it continue? they are not so sure given what is going on in washington. >> bianna, thank you. >>> in the nfl today, they were mourning their tragic loss. the dallas cowboys bowing their heads in a mome
. >>> wall street also watching as both sides inch to the fiscal cliff. not only are your taxes in the balance so are the 401ks. and today, ood holiday bonus, gas prices. we bring in bianna golodryga. you look at gas prices. write on pace to set a record. >> the average american household is expected to spend $4,000 a year on gasoline alone. and gas at 3.93 a gallon and today, take a look at this, $3.35 and by miscase time, estimates we will see 3.20. a lot has to do with post...